Abacus launches online trading platform

MANILA, Philippines - Abacus Securities Corp. is entering the local online trading business through MyTradePhilippines.

In a briefing yesterday, Abacus VP for Research and MyTrade operations head Raymond Franco said the group is seeking to conquer the local market and then capture the overseas Filipino market later on.

 He said while Abacus Securities is already an existing player in the sector, there is room for more new entrants because many Filipinos are still not into online stock trading.

“We offer something which the other companies do not,” Franco said.

For one, he said MyTrade would offer information that is “more reliable than the competition.”

The real key that would set the company apart is in the area of customer service.

Franco noted that a common complaint against the existing online trading companies is their failure to deliver the level of customer service that clients feel they deserve.

Abacus said MyTrade has highly-trained people delivering personalized service to its clientele.

“We believe that our research is ahead of the curve. We believe that our research capability will give investors an edge when they invest in the stock market,” Franco said.

MyTrade is also looking at offering the country’s first full-fledged mobile trading application this year.

The company will formally launch the platform, mytrade.com.ph  next week after a soft launch of the trading platform early this month.

MyTrade executives believe the same factor that turned Abacus into one of the country’s top stockbrokers will help them leapfrog to the top of the industry within a few years.

Last year, Abacus Securities saw its business grow by 25 percent.

This was one reason why MyTrade’s mother company, Abacus decided it was time for them to join the fray.

Franco is optimistic that with the Philippine economy doing well, more and more investors will engage in online trading.